The price of electricity is threatening to run away – the EU commissioner predicts a difficult winter

EU Energy Commissioner Dan Jorgensen warns in very strong terms about the rise in electricity and other energy prices in the coming winter.

“This is going to be a very difficult winter due to high energy prices,” he says In an interview with La Stampa.

According to the commissioner, the EU allows member countries to pay energy subsidies as long as they are temporary and precisely targeted. Jørgensen also believes that tools such as the emissions trading system are an important part of the solution for lowering energy prices, even though the governments of many EU countries are particularly against emissions trading.

“Prices are lowered by addressing our dependence on fossil fuels. The Emissions Trading System is part of the solution: it is one of the driving forces behind the Green Deal, as it provides the financial incentives needed to achieve the transition. It has enabled us to collect huge revenues while reducing emissions,” he commented.

The emissions trading system also spoke at the EU summit this week. Italy, Poland, the Czech Republic, Cyprus, Hungary and Slovakia are calling for its introduction to be postponed until at least 2030, as the war in the Middle East has revolutionized the energy market. However, other EU countries rejected the proposal.

Dan Jørgensen reminds us that right now energy prices vary a lot in different EU countries. Countries that have invested in renewable energy now pay less for energy.

The commissioner also brings up taxation.

“If all countries reduced their electricity taxes to the minimum, we could save 40 percent of electricity prices.”